Manage episode 301193926 series 2951323
In this Episode, we discuss what you can do to help financially prepare your kids for their future. In part 1, we discuss what you as a parent can do and spoiler alert, a lot of it has to do with the RESP (Registered Education Savings Plan). It's a really interesting way to help save money for your kids' futures while also earning free grants from the government, and NO, it doesn't necessarily have to be used to pay for schooling.
We also bring to light some truths about devious and malicious companies like CST (Canadian Scholarship Trust). We have no problem on this podcast calling companies like CST predatory and Colin goes into detail as to why. DO NOT GET AN RESP THROUGH CST or any other company like it.
And did you know you can get life insurance for your children that will stay with them for the rest of their lives? So even if they contract a rare disease later on in life and are ineligible for life insurance, the plan you got them when they were just a child will still cover them and protect their family in the future.
We dive into it all on this episode!
We hope you learn something along the way. If you have any questions, hit up our FB or Instagram pages and the guru himeself will have some answers for you!
The CLFA Team